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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Dan P who wrote (42436)	10/8/1999 8:53:00 AM
From: Enigma	Read Replies (2) \| Respond to of 116764

Re: XAU - it's a strange index because of the weightings. Re: gold in Asia - I believe this was a point made by Hutch - i.e that volumes there don't really count (he'll rationalise anything) - I'd say that with so many people -------- bricks just now - those covering short positions are up all night and buying gold anywhere they can!

To: Dan P who wrote (42436)	10/8/1999 10:03:00 AM
From: Tunica Albuginea	Respond to of 116764

Dan P Re: " fill gold gap ". Not all gaps are filled. Gold has been kept down artificially so long and the gap out was so powerful that it may never go back down, TA Message #42436 from Dan P at Oct 8 1999 8:42AM I asked the question. However, the XAU hasn't and it is interesting that Mark Leibovit (Volume Reversal Survey) who has been bullish on the gold stocks, is looking at 72 on the XAU as a "re-entry" point. This level would actually fill the gap in the XAU as well, and it is entirely possible that we will see it filled. The point made earlier about gold itself (e.g. Dec 99 comex) was an interesting one: namely that gold trades throughout the 24 hr period in Asia, Europe, etc., and that the gaps in the Dec 99 gold chart may or not represent "real" gaps. You are right about Barrick, but it needs another fraction of a point decline to just above $20, to completely fill the "downside" gap. This suggests that we are close to an intermediate bottom in gold and the major producers. If (and I believe it ) you believe that we are in a major new move in gold and gold stocks, one should look at that as a buying opportunity. What stocks you buy (or funds for that matter) is not that obvious, but those companies that are not hedged at all (Homestake, e.g.) would seem to have an advantage. Regards Dan